Earned Value Management Value Management Case Study
You are the project manager in charge of a building project. Your project is the construction of a multi-store commercial building which is 15 stories in height. Based on the project plan, the cost of the construction will be $95,000 per floor. The project will take 9 months to complete.
Three months into the project, you have spent $270,000 and completed 3 stories of the building.
You have been request to report on the performance of your project and determine how much time it will take to complete the project and how much money it will cost to complete the project. Use the approach outlined in the reading (Polaris Lessons in Risk Management, Appendix A, Earned Value Management) to determine your project's performance and report on its Earned Value.
Complete the above Earned Value Management Case Study, using EV (earned value) equations.
Questions:
1) Is the project on schedule? If not, it is behind or ahead?
2) Will the project be completed within budget? If not, will be over budget or under budget?
3) What recommendations do you have to get the project back on track?